1. Tabs module with Load On Demand tabs that use ajax instead of post-back.
2. Participation Awards Module.  Something a lot like DNN.com's new Community Recognition system
3. Subscription module that has invoicing AND reoccurring payments. Preferably with both paypal and authorize.net abilities.
4. Another module based on the Highslide jQuery plugin like Live Content is but without all the extra stuff. i.e. I use LC in "developer mode" to pop-up html and other modules. I don't need the photo gallery, video gallery, iframe element, activation, etc.
5. A skin switcher module to use with Active Social and other similar uses.  This would allow the profile owner to select which skin the page uses. Skin is switched based on querystring variable.
6. SMS/Email posting.  There is the email connector that comes with Active Forums Enterprise that I am playing with but I would like to see this ability for use with a blog/news module as well.  I am aware of a couple of solutions being worked on so maybe in the near future.....
7. Flipboard, paper.li, Twitter tim.es, Feedly type module that will take Twitter/Facebook feeds and turn them into a newspaper.
8. Flickr Photo Gallery module that allows you to upload as well as display.  Not sure but I think Oliver Hine may have solved this one here. 
9. A module similar to the old YouView module from MobileNow (Tony V) that will allow you to display Word, PDF, PowerPoint, and Excel files.  You can use outside sources (Scribd) to do this now but it would be nice to do it in-house.
10. A module to make interacting with exterior sites via their API's easier. Kind of an API framework module maybe??

10.5  A module based on jquery.sheet - a spreadsheet module.
10.9 Surprise me with something I haven't thought of - but Please, no more photo gallery modules - I think snowcovered has plenty of those now. Exception to this would be Scott's new Simple Gallery update with Amazon storage.